Politics, Real Talk, Scams

#MCA #EzPass

I heard this morning that one individual had received $14,000 worth of those extreme orange envelopes for tolls in New York yet the tolls range approximately from $1.30 – $5.00!  As millions mount up in unpaid fines on the New York State Thruway’s crossing of the Tappan Zee, state officials announced a 3-week amnesty program Tuesday. Set to launch in February, it will give Tolls By Mail cashless tolling customers with open violations amnesty for the penalties if they just pay the tolls they owe.  They stood in line for hours to have receive their amnesty.

A Synopsis of Fees

  • The New York E-ZPass program offers discounts on all city crossings and additional discounts for drivers on Staten Island and Rockaway. The Metropolitan Transportation Authority is currently proposing toll hikes, in various forms, and the fares listed below are subject to change.
  • The Bronx-Whitestone, Throgs Neck, and RFK Bridges and the Hugh L. Carey and Queens Midtown Tunnels charge a blanket $7.50 toll each way. E-ZPass holders in New York pay $5.33.
  • The Henry Hudson Bridge, a non-stop operation, allows New York registrants to pay $2.44 via E-ZPass, or $5 by mail in each direction.
  • Cross Bay and Marine Parkway bridges charge $3.75, in each direction for cash and out-of-state tolls, and $2 for New Yorkers. E-ZPass users in Rockaway pay $1.30.
  • The Verrazano Bridge’s $15 toll is charged to travelers paying with cash or an out-of-state E-ZPass. New York E-ZPass registrants pay $10.66 and Staten Islanders in the program pay $5.50.

If the first toll bill by mail is not paid by the customer, a $5 late fee is imposed on the second notice. If the second notice is also ignored, violation fees of $100 per toll are imposed — and those start at the end of the billing cycle. Cross 10 times in a month and don’t pay and you would owe $50 for the tolls, $25 in fines and $1,000 in penalties within three months.

Why am I #Concerned, I received 3 tickets each for $1.50 because I was driving a rental my car had been in an accident and was being repaired.  I paid the $4.50, sent a letter, and a copy of the accident report to EZ Pass and their lawyers.  I now owe $500!!! Lastly, after several calls to EzPass they stated the monies were posted to only one ticket. That means one of those tickets should have had a credit of $3.00!

Any Advice?

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Scams

#Debit Card – #Credit Card Fees – Additional #Income

Enter the local market on Round Hill Road in Greenwich, CT to purchase one of their amazing $7.00 tuna sandwiches and the clerk states, “You have to purchase at least $10 or pay an additional .50 cents”.

According to the Federal Reserve, the average interchange fee per transaction for all debit card issuers in 2009 was 43 cents. Data collected from the fourth quarter of 2011 indicated that the average interchange fee received by non-exempt issuers declines 45% from the 2009 level to 24 cents. – Source Google Search

In order to process credit cards and debit cards, a merchant must negotiate a “merchant discount fee” either with his or her financial institution or, for Discover and American Express, with the credit card company directly. The negotiated fee is then subtracted from each customer transaction with a credit or debit card. The “interchange transaction fee,” which is paid to the credit or debit card issuer, makes up the largest percentage of the merchant discount fee and is the focus of this report.

In 2011, the Federal Reserve adopted Regulation II, which limits the amount of interchange fees that debit card issuers can charge for transactions. The rule limits the interchange fee to a maximum of 21 cents plus .05% of the transaction value. The rule exempts financial institutions with less than $10 billion in assets. To date, there are no such laws or regulations limiting the interchange transaction fees an issuer may charge for credit card purchases. Since credit card interchange fees vary significantly from one card to another and from one merchant to another, some merchants may pay higher fees for credit card transactions while others pay higher fees for debit card transactions. Source – OLR Research Report

I wonder if Round Hill Road Store claims the balance of fees charged as income?

Round Hill Road Store, Round Hill Road, Greenwich, CT